The London Platinum and Palladium Market (LPPM) is an over-the-counter (OTC) trading center for platinum and palladium. A large percentage of the transactions carried out here are purely speculative with no physical delivery taking place.
Twice a day during trading days, four LPPM members fix the bid prices for platinum and palladium.
- Morning fixing: Monday – Friday at 09:45 UTC
- Afternoon fixing: Monday – Friday at 14:00 UTC
The bid price is one at which members of the LLPM guarantee that they will buy good delivery platinum or palladium, respectively. These prices become benchmarks for the market and will typically impact the price consumers, investors and speculators are asked pay if they wish to purchase platinum and palladium.
The LPPM members are large international banks, as well as producers, refiners, fabricators, manufacturers and distributors of platinum and/or palladium.
Full members (as of 2015)
- Barclays Bank PLC
- Credit Suisse
- Deutsche Bank AG
- Goldman Sachs International
- HSBC Bank USA NA
- ICBC Standard Bank Plc
- JP Morgan Chase Bank
- Standard Chartered Bank
- The Bank of Nova Scotia, ScotiaMocatta
- The Toronto-Dominion Bank
- UBS AG
- BASF Metals Limited
- Heraeus Metals Germany GmbH & Co. KG (not a Market Making Member)
- Johnson Matthey PLC (not a Market Making Member)
- Metalor Technologies SA (not a Market Making Member)
- Mitsui & Co Precious Metals Inc (London Branch)
- PAMP SA (not a Market Making Member)
- Tanaka Kikinzoku Kogyo K.K (not a Market Making Member)
- Valcambi (not a Market Making Member)